KIA rejects insider trading allegations

The Kuwait Investment Authority (KIA) has reportedly prepared a report in response to parliamentary allegations by MP Musallam Al-Barrak that some of its officials had been involved in insider trading. A KIA insider said that the report has now been completed, adding that Finance Minister Mustafa Al-Shamali will present it to the cabinet when His Highness the Prime Minister Sheikh Nasser Al-Mohammed Al-Sabah returns to Kuwait.

The insider said that the report includes detailed answers to the points raised by the MP and refutes the accusations made against the KIA. The official said that the KIA’s staff are upset as these accusations are made every year whenever its budget is discussed in parliament. KIA staff believe that these allegations are only made for political gains, and must be strongly refuted, so that they are not repeated.
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